Spotify’s new brand film celebrates its launch in what will become a key market
Spotify, the world’s leading streaming music service, recently launched in India. To celebrate that moment, the company has released a new brand video, created by agency Leo Burnett India to “announce the much-anticipated launch of the global streaming service, while celebrating the different styles and sounds of Indian music,” according to industry publication The Drum. The fanfare makes sense: India could be the next major market for streaming music.
Check out Spotify’s new brand video below:
The reason that India is such a big deal is simple: with the west conquered, and China (for now) unavailable (and the country has its own streaming music services anyway), India represents massive growth potential: the country has 1.34 billion people living in it, and is widely thought of as following in China’s footsteps when it comes to the Asian economic boom.
But it won’t, necessarily, be easy. Music tastes are more diverse than ever – it’s no longer the case that everyone just listens to western pop. And in India, the market has been cornered by devotional music and Bollywood hits – both of which might be in a number of regional dialects. Spotify has made a concerted effort to get hold of the rights to as much of this music as possible – but licenses have been a sticky issue over the last week, as a dispute between Spotify and Warner / Chappell Music (WCM).
The (slightly confusing) case is basically this: Spotify alleges that WCM reneged on a previously agreed licensing deal for India, and went ahead and launched anyway. WCM promptly filed for an emergency injunction in the Bombay High Court. And, from public statements, it appears as though both parties think they’ve won, with Spotify saying that the injunction was struck down, and WCM saying it was upheld. No doubt the story will continue to play out in the media, and the truth will become clear eventually. Regardless, it goes to show how central licensing is to Spotify’s overall business model – and how important it will be, particularly, in India.
Spotify’s share price has appreciated by 24% so far this year
Source: Yahoo Finance
Spotify’s new video clearly demonstrates that it understands the importance of the Indian market. Leo Burnett managing director for India and chief creative officer for South Asia, said: “Spotify is a pioneer in the music streaming space and it is going to revolutionise this experience in India. The auto recommendation is world’s best bar none. The brand always stood for artists and musicians around the world and that shows the brands commitment for music and creators.”
Dominion holds Spotify in its Global Trends Luxury Fund.
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